MMJ PhytoTech Limited (ASX:MMJ) notes the attached press release by Harvest One Cannabis Inc. (CVE:HVST) ("Harvest One") confirming that Harvest One intends to mandatorily convert certain of its convertible debentures into common stock on or about 28 March 2018. Post conversion, MMJ's current shareholding of 53,333,333 common shares in Harvest One will be 34.5% (see Note below) of the total outstanding shares.

Note: Subject to future conversions of other convertible instruments and warrants issued by Harvest One

In October 2017, () announced its strategy to become an incubator for strategic investments across regulated jurisdictions globally covering the entire cannabis value chain.

Following the successful listing of United Greeneries Holdings Ltd ("United Greeneries") and Satipharm AG ("Satipharm") on the TSX-V through Harvest One Cannabis Inc. (CVE:HVST), MMJ has focused on the identification of a number of independent strategic investment opportunities that have the potential to deliver significant value to the Company's shareholders.